We saw a shameful display of political petulance this week.
Every single Republican on the Senate Banking Committee chose *not* to show up for a vote on President Biden’s nominees to the Federal Reserve.
As a reminder, the Federal Reserve (a.k.a. “the Fed”) is our nation’s central bank. It was established by Congress after a series of financial panics in the early 1900s for the purpose of keeping our economy stable.
President Biden has put forward an exceptional and diverse slate of Fed nominees.
- They bring the right expertise and the right values to the job.
- They are prepared to steward the economy through the challenging pandemic and post-pandemic period.
- They will hold Big Banks accountable.
- They will ensure banks take into account the risks they face from climate chaos.
- They will work for everyday Americans, not Wall Street.
But without the required number of senators present for a vote, the nominations are in limbo.
Tell the Senate:
It is shameful that Republicans on the Banking Committee chose to shirk their responsibilities by petulantly refusing to even show up for a scheduled vote. The Democrats on the committee, all of whom fulfilled their duties, deserve commendation. The full Senate must confirm President Biden’s nominees to the Federal Reserve without further delay.
Add your name now.
Thank you for taking action.
For progress,
- Robert Weissman, President of Public Citizen
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